In spite of Medicare’s almost constant presence in the news recently, most U.S. investors still grossly underestimate how much they will need to save to cover the costs of healthcare in retirement, it emerged in a webcast last night from Wells Fargo’s retirement group.
The average investing couple surveyed by Wells believes they will need to save $68,000 to cover their healthcare costs in retirement about four times less than the real estimate of $250,000-$300,000, according to Karen Winbush, director of Retail Retirement at Wells Fargo. “There’s a big disconnect between reality and actuality,” she said.
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